CG Oncology, Inc. (NASDAQ:CGON) Given Average Rating of “Buy” by Analysts

Shares of CG Oncology, Inc. (NASDAQ:CGON) have received a consensus rating of “Buy” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $57.70.

Several equities analysts have recently weighed in on the company. Scotiabank initiated coverage on CG Oncology in a report on Wednesday, April 16th. They set a “sector perform” rating and a $23.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $75.00 target price on shares of CG Oncology in a report on Monday, April 28th. Royal Bank of Canada upped their target price on shares of CG Oncology from $66.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Morgan Stanley reiterated an “overweight” rating and set a $55.00 price objective on shares of CG Oncology in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. started coverage on shares of CG Oncology in a research note on Friday, May 2nd. They set an “overweight” rating and a $41.00 target price for the company.

CG Oncology Price Performance

CGON opened at $24.15 on Friday. The firm has a market cap of $1.84 billion, a PE ratio of -17.00 and a beta of 1.08. The stock has a 50-day moving average price of $23.59 and a 200-day moving average price of $28.66. CG Oncology has a 1 year low of $14.80 and a 1 year high of $40.47.

CG Oncology (NASDAQ:CGON) last issued its earnings results on Tuesday, March 25th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.11). CG Oncology had a negative return on equity of 18.97% and a negative net margin of 10,642.98%. The firm had revenue of $0.46 million during the quarter, compared to the consensus estimate of $0.11 million. As a group, sell-side analysts anticipate that CG Oncology will post -1.31 EPS for the current year.

Insiders Place Their Bets

In other CG Oncology news, Director Leonard E. Post sold 1,000 shares of the company’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $30.76, for a total transaction of $30,760.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Hedge Funds Weigh In On CG Oncology

Several institutional investors and hedge funds have recently added to or reduced their stakes in CGON. NEOS Investment Management LLC boosted its stake in CG Oncology by 10.9% in the fourth quarter. NEOS Investment Management LLC now owns 8,329 shares of the company’s stock valued at $239,000 after acquiring an additional 817 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in CG Oncology by 6.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 15,270 shares of the company’s stock worth $374,000 after buying an additional 930 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in CG Oncology by 0.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 258,090 shares of the company’s stock valued at $6,321,000 after buying an additional 933 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in CG Oncology by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,080 shares of the company’s stock worth $862,000 after acquiring an additional 1,026 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in shares of CG Oncology during the fourth quarter valued at about $41,000. Hedge funds and other institutional investors own 26.56% of the company’s stock.

CG Oncology Company Profile

CG Oncology, Inc, an oncolytic immunotherapy company, focuses on developing and commercializing backbone bladder-sparing therapeutics for patients with bladder cancer. The company develops BOND-003 for the treatment of high-risk bacillus calmette guerin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC) patients; CORE-001 to treat cretostimogene in combination with pembrolizumab in high-risk BCG-unresponsive NMIBC patients; and CORE-002 for the treatment of cretostimogene in combination with the checkpoint inhibitor nivolumab in muscle invasive bladder cancer patients.